Sensex Closes 56 Pts Lower At 22,631

Monday, April 28, 2014
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MUMBAI : The BSE benchmark Sensex fell over 56 points at close on sustained FII selling, chiefly in auto and heavy machinery sectors amid weak global trends due to new tension over Ukraine.

The 30-share index fell by 56.46 points, or 0.25 per cent, to 22,631.61. It had surged to an all-time intraday high of 22,939.31 in its previous trade.

The broad-based National Stock Exchange index Nifty lost 21.50 points, or 0.32 per cent, to end the day 6,761.25.

Brokers said investors booked profits in recent outperformers after forecast of below average monsoon this year. Companies reporting disappointing earning numbers also hit the investor sentiment, they added.

Officials in the weather department had said the monsoon was expected to be below normal because of the El-Nino effect, which is generally associated with the warming of ocean water.

Trends in Asia and Europe were weak after renewed tension over Ukraine. Investors weighed the prospects of Russia coming under new sanctions.

The U.S. was preparing to levy fresh sanctions against Russia for Moscow’s failure to uphold terms of an agreement with that calls for withdrawal Russian forces from the border with Ukraine.

Of 30 Sensex stocks, 22 ended with losses led by Bajaj Auto. GAIL, Hero MotoCorp, Larsen and Toubro, Mahindra and Mahindra, Maruti Suzuki, Tata Motors and Tata Consultancy Services were prominent losers.

The Capital goods sector index suffered the most by losing 1.01 per cent at 12,462.05, followed by Auto index by 0.97 per cent at 13,483.49. Metal index lost 0.53 per cent to 10,376.59 and FMCG index by 0.42 per cent to 6,808.64.

Source: PTI
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